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Global rewards strategies for health & benefits

Optimize your global benefits program with KPMG Benefits Services

Global rewards strategies for health & benefits

Managing a benefits program has never been more complicated. The COVID-19 pandemic placed a magnified and accelerated focus on benefits, and employers had to adapt quickly to meet the needs of their members. These needs are continuously evolving with breakthroughs in digital health, a required focus on mental health, and maintaining employee engagement with a remote population. Employees are requiring more robust benefits to support diverse populations at a time when member health has deteriorated, large claims continue to rise, and business pressures are minimizing spend across the organization. 

Companies with employer-sponsored health plans need to strategically manage their offerings. If they don’t, they risk a significant amount of employee dissatisfaction and unnecessary spending. Now is a pivotal time for your company’s health and welfare programs due to:

  • Anticipated high medical costs from foregone non-emergent care and pandemic challenges
  • Upward pressures in healthcare benefits spend from the Great Resignation and DEI goals
  • In U.S. healthcare, the employer has sole responsibility to control costs and optimize value

Differentiate your benefits in a difficult talent environment

Benefits are a central element of a total rewards offering and should be valued by your employees. For a market competitive total rewards program that fits within the cultural and financial needs of an organization, companies should take into consideration the below-listed elements:

Employee needs

Eliminating waste

Industry competition

Evaluating risks

Leveraging data

Vendor landscape

How KPMG can help

We are a strategic and innovative team experienced in helping large and small organizations across different industries. Our team consists of healthcare actuaries and senior benefits consultants and is fully integrated with our broader Global Mobility practice service lines, allowing a consistent approach to mobility and rewards. Our Global Reward Services team can assist with the following: 

  • Conducting holistic current state reviews for all global public and private employers
  • Recommending how to enhance benefits programs and save costs
  • Guiding small employers out of a professional employer organization (PEO)
  • Completing benefits harmonization and risk analysis
  • Identifying opportunities for organizations going through transactions
  • Enhancing employer benefits programs (richness, DEI benefits)
  • Completing plan cost projections for employer sponsored plans
  • Evaluating global benefits offerings and funding opportunities

Download the slip sheets below to learn more.

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Subscribe to the Global Reward Services newsletter to help you stay current on the latest developments and thrive in this dynamic environment.

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We know how important it is be up-to-date on global tax and practice developments in the compensation and rewards space, especially in countries where you currently do business or are looking to expand. That's why we developed this newsletter to keep you informed. Subscribe to the Global Reward Newsletter to get started and stay current on the latest changes and developments.

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